INTERNO D'OR
ActiveSummary
INTERNO D'OR has been active since 2002 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags). The 2025 annual accounts show negative equity (-€4,686) and a net result of €1,833. Equity is growing by ~21.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 28254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability97▲+11
Solvency0=
Growth52=
Track record92
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.46 against 0.51 in 2024; short-term debt: 158% and cash: 28.2% of total assets), and equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-58%
Return on assets
22.7%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 28254 sector peers (2025).
NBB · sector comparisonPosition among 28254 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
20 d early
2023
30 d early
2022
25 d early
2021
18 d early
2020
30 d late
2019
47 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 6 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
UBO non-compliance
Checked, nothing found (1)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€4,686▲ 28.1%
2024 · -€6,519
Total assets
€8,075▼ 36.8%
2024 · €12,781
Net result
€1,833▲ 6.7%
2024 · €1,718
Working capital
-€6,831▲ 28.4%
2024 · -€9,535
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€6,275▲ 160%-€804€11,243€2,150▼ 80.9%€2,252▲ 4.7%
Net result€6,040within the sector's middle half▲ 193%-€1,217below the sector's middle half€10,814within the sector's middle half€1,718within the sector's middle half▼ 84.1%€1,833within the sector's middle half▲ 6.7%
Equity-€17,833below the sector's middle half▲ 25.3%-€19,050below the sector's middle half▼ 6.8%-€8,236below the sector's middle half▲ 56.8%-€6,519below the sector's middle half▲ 20.9%-€4,686below the sector's middle half▲ 28.1%
Total assets€16,409below the sector's middle half▼ 2.5%€8,418below the sector's middle half▼ 48.7%€17,743below the sector's middle half▲ 111%€12,781below the sector's middle half▼ 28.0%€8,075below the sector's middle half▼ 36.8%
Debt€34,242▼ 15.9%€27,468▼ 19.8%€25,979▼ 5.4%€19,300▼ 25.7%€12,761▼ 33.9%
Working capital-€23,461below the sector's middle half▲ 20.8%-€23,807below the sector's middle half▼ 1.5%-€12,123below the sector's middle half▲ 49.1%-€9,535below the sector's middle half▲ 21.4%-€6,831below the sector's middle half▲ 28.4%
Solvency-108.7%below the sector's middle half▲ 33.2pp-226.3%below the sector's middle half▼ 117.6pp-46.4%below the sector's middle half▲ 179.9pp-51.0%below the sector's middle half▼ 4.6pp-58.0%below the sector's middle half▼ 7.0pp
Current ratio0.31below the sector's middle half▲ 0.040.13below the sector's middle half▼ 0.180.53below the sector's middle half▲ 0.400.51below the sector's middle half▼ 0.030.46below the sector's middle half▼ 0.04
Return on assets (ROA)36.8%above the sector's middle half▲ 24.6pp-14.5%below the sector's middle half▼ 51.3pp60.9%above the sector's middle half▲ 75.4pp13.4%within the sector's middle half▼ 47.5pp22.7%above the sector's middle half▲ 9.3pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 5% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8,075
Fixed assets
€2,145 ▼ 28.9%
Current assets
€5,930 ▼ 39.3%
Key figures and ratios
EBITDA
€3,123▲
2024 · €3,021
Cash flow
€2,703▲
2024 · €2,588
Debt to equity
-2.72▲
2024 · -2.96
Interest coverage
7.26▲
2024 · 6.98
Debt ≤ 1 year
€12,761▼
2024 · €19,300
Income taxes
€0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,798 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,798 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,007 | €871 | €871 | €871 | €871 | = |
| Other operating charges640/8 | €737 | €1,327 | €749 | €778 | €910 | ▲ 17.0% |
| Gross operating margin9900 | €8,019 | €1,394 | €12,863 | €3,799 | €4,032 | ▲ 6.1% |
| Operating profit (loss)9901 | €6,275 | -€804 | €11,243 | €2,150 | €2,252 | ▲ 4.7% |
| Financial income75/76B | - | €3 | €0 | €0 | €11 | - |
| Recurring financial income75 | - | €3 | €0 | €0 | €11 | - |
| Financial charges65/66B | €235 | €416 | €430 | €433 | €430 | ▼ 0.6% |
| Recurring financial charges65 | €235 | €416 | €430 | €433 | €430 | ▼ 0.6% |
| Profit (loss) for the period before taxes9903 | €6,040 | -€1,217 | €10,814 | €1,718 | €1,833 | ▲ 6.7% |
| Income taxes67/77 | - | - | - | - | €0 | - |
| Profit (loss) for the period9904 | €6,040 | -€1,217 | €10,814 | €1,718 | €1,833 | ▲ 6.7% |
| Profit (loss) for the period to be appropriated9905 | €6,040 | -€1,217 | €10,814 | €1,718 | €1,833 | ▲ 6.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €16,409 | €8,418 | €17,743 | €12,781 | €8,075 | ▼ 36.8% |
| Fixed assets21/28 | €5,628 | €4,757 | €3,886 | €3,016 | €2,145 | ▼ 28.9% |
| Tangible fixed assets22/27 | €5,628 | €4,757 | €3,886 | €3,016 | €2,145 | ▼ 28.9% |
| Land and buildings22 | €4,862 | €4,167 | €3,473 | €2,778 | €2,084 | ▼ 25.0% |
| Plant, machinery and equipment23 | €766 | €590 | €413 | €237 | €61 | ▼ 74.2% |
| Current assets29/58 | €10,781 | €3,661 | €13,856 | €9,765 | €5,930 | ▼ 39.3% |
| Amounts receivable within one year40/41 | €4,280 | €858 | €5,495 | €5,075 | €3,653 | ▼ 28.0% |
| Trade receivables40 | €4,147 | €858 | €4,776 | €4,770 | €3,127 | ▼ 34.4% |
| Other amounts receivable41 | €133 | - | €719 | €305 | €526 | ▲ 72.5% |
| Cash at bank and in hand54/58 | €6,151 | €2,559 | €8,361 | €4,691 | €2,277 | ▼ 51.4% |
| Deferred charges and accrued income490/1 | €350 | €244 | €0 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €16,409 | €8,418 | €17,743 | €12,781 | €8,075 | ▼ 36.8% |
| Equity10/15 | -€17,833 | -€19,050 | -€8,236 | -€6,519 | -€4,686 | ▲ 28.1% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Outside capital11 | €12,400 | - | - | - | - | - |
| Other1109/19 | €12,400 | - | - | - | - | - |
| Reserves13 | €5,970 | €5,970 | €5,970 | €5,970 | €5,970 | = |
| Non-distributable reserves130/1 | €1,855 | €1,855 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,855 | €1,855 | €0 | - | - | - |
| Tax-exempt reserves132 | €4,115 | €4,115 | €4,115 | €4,115 | €4,115 | = |
| Distributable reserves133 | - | - | €1,855 | €1,855 | €1,855 | = |
| Profit (loss) carried forward14 | -€36,203 | -€37,420 | -€26,606 | -€24,889 | -€23,056 | ▲ 7.4% |
| Amounts payable17/49 | €34,242 | €27,468 | €25,979 | €19,300 | €12,761 | ▼ 33.9% |
| Amounts payable within one year42/48 | €34,242 | €27,468 | €25,979 | €19,300 | €12,761 | ▼ 33.9% |
| Trade debts44 | €3,376 | €4,654 | €5,798 | €2,438 | €3,665 | ▲ 50.3% |
| Suppliers440/4 | €3,376 | €4,654 | €5,798 | €2,438 | €3,665 | ▲ 50.3% |
| Advances received on contracts in progress46 | €4,147 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | €86 | €0 | - | - | - |
| Taxes450/3 | - | €86 | €0 | - | - | - |
| Other amounts payable47/48 | €26,719 | €22,728 | €20,181 | €16,862 | €9,097 | ▼ 46.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,040 | -€1,217 | €10,814 | €1,718 | €1,833 | ▲ 6.7% |
| + Depreciation and write-downs630 | €1,007 | €871 | €871 | €871 | €871 | = |
| Operating cash flow (approximation) | €7,047 | -€346 | €11,684 | €2,588 | €2,703 | ▲ 4.4% |
| Investment in fixed assets (approximation) | - | €0 | -€0 | €0 | €0 | - |
| Change in cash | - | -€3,592 | €5,802 | -€3,670 | -€2,413 | ▲ 34.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
28-06
KBO administration
UBO non-compliance
event 17-06-2024
2023
31-12
Financial
Back to profitnet €10,814
Net result €10,814 after one loss-making year.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€1,217
Net result drops to -€1,217, the lowest in the series; recovery starts the following year.
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
16-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 47 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 91 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Herentals · 1 establishment unit since 2002
Ground area
705 m²
Building footprint
110 m²
Volume, LiDAR
540 m³
Parcel 13011B0679/00E002, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Cardijnlaan(HRT) 11, 2200 Herentals
since 20022.101.839.946
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13011B0679/00E002 | Flanders | 705 m² | 1 · 110 m² | 7.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector and region
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 7,868 companies in sector 43341 we hold annual accounts for 2,666. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded15-05-2002
Fiscal year end31-12
Activities, NACEBEL 2025
43341Painting of buildings
43211General electrical installation work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477530802
Registered
29-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.